269ss
This query is : Resolved
14 July 2010
I took advance of Rs.10 lakhs in cash from a party for the purpose of selling an asset. Now the deal is cancelled and I returned back Rs.10 lakhs in cash to party. Can sec.269ss and 269t apply to this transaction? Am I liable to any kind of penalty?
14 July 2010
Similar query discussed in length here
https://www.caclubindia.com/forum/cash-transaction-91422.asp
https://www.caclubindia.com/forum/cash-transaction-91422.asp
14 July 2010
I had said it a similar kind of query.
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